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EURUSD

Quoting RussJ
took a stab on euro at 1.3033 targeting 130.76.. this si its chance to do it otherwise it will fail... looking to scalp up 40 pips then short 100 then long 100 plus
ok I will be watching, where is you protective stop?

In my world 40 pips is not scalp tough, but 4 to 7.
we're away if we can close over 40 on 15 min . .. and we should see76 as predicted via the crystal ball ... looking for 76/78 to short... you will get second chance at 57/59 to short when 1.3020 longs us or in my case a reload if of course we get there now and don't drop below 28 but 15 minute and hourly stochs about to cross to upside and 15 minute pulling ut lots of signals at Support to long
Quoting RussJ
{quote} where yours stop is where I think the bottom is and where I am buying... the 1.2996 long I think is a scalp to 1.3027 but that's just my opinion... like my mate wants it back at 1.2930... but I be surprised if it got that far
anything is possible bro. good luck
Everything in the world has its own rhytms
Quoting Kingscalp
{quote} ok I will be watching, where is you protective stop? In my world 40 pips is not scalp tough, but 4 to 7.

25 -40 pips is a scalp... 60 - 100 pips is a spot trade and anything like 150 plus is a swing the of course you have a position trade and you have pyraminds....

Stop is at 1.3025 underneath the support.. but don't want to see the 15 minute low break.. I got in at 33 where the sweet spot is but shouldn't break 27


4 - 7 pips is Novices trading or computer system high frequency trading or people in prop houses that get no spreads etc... but its hard work and not worth the headache... if they are trying to get 7 pips... where is their stop.. the risk reward doesn't work
Quoting RussJ
{quote} 25 -40 pips is a scalp... 60 - 100 pips is a spot trade and anything like 150 plus is a swing the of course you have a position trade and you have pyraminds.... Stop is at 1.3025 underneath the support.. but don't want to see the 15 minute low break.. I got in at 33 where the sweet spot is but shouldn't break 27 4 - 7 pips is Novices trading or computer system high frequency trading or people in prop houses that get no spreads etc... but its hard work and not worth the headache... if they are trying to get 7 pips... where is their stop.....
What is a 4-7 pips then?
Sometime eurusd do not move 40 pips and you need to wait for the next day for your profit target or your stop loss to be hit, that is not scalp for me.
Scalp means to get in and out sometime in less than a minute and not more than 30 minutes.
There's always 40 pips.. the average move is 40 pips and retrace 25 pips.....

4 - 7 pips is amateur/Novice or prop house that do high frequency as no spreads... retailers gaining 4 - 7 pips doesn't work int he end as Risk to Reward is notthere as they have spread or commission etc....

but 4 - 7 pips is called high frequency trading if done correctly... but this should only be done by someone that has virtually no spread and has the proper systems to get in and out ... prop houses have ability to get in hyper fast with low comms, (system is DMA - direct market Access) virtually zero... as they make their money off the traders via comms and how many trades they do etc as they build in their comms on top of what they get it for etc.

I wouldn't try to make a living out of 4 - 7 pips though.. high leverage and crazy risk you ask me, I hear one or two people though on here are doing ok doing it but not for me
Quoting Kingscalp
{quote} What is a 4-7 pips then? Sometime eurusd do not move 40 pips and you need to wait for the next day for your profit target or your stop loss to be hit, that is not scalp for me. Scalp means to get in and out sometime in less than a minute and not more than 30 minutes.



4 - 7 pips.. you ask what is it.. its just come to me.... Scracth trade (Break even) neither here nor there.. covers spread and comms
Quoting RussJ
{quote} 25 -40 pips is a scalp... 60 - 100 pips is a spot trade and anything like 150 plus is a swing the of course you have a position trade and you have pyraminds.... Stop is at 1.3025 underneath the support.. but don't want to see the 15 minute low break.. I got in at 33 where the sweet spot is but shouldn't break 27 4 - 7 pips is Novices trading or computer system high frequency trading or people in prop houses that get no spreads etc... but its hard work and not worth the headache... if they are trying to get 7 pips... where is their stop.....
it is depend on which currency pairs u trade.
EU has average of 110 price range with max 218 price range for the last 2 months.

for intraday trader
10-20 pips absolutely scalping on EU
40 pips already 1/3 from average daily price range. Someone may call it scalping and the others may call it medium term trading.
over 100 pips in one transaction, absolutely a quite good intraday trader can get in a day

i dont want to enter any position if my expected profit less than 10 pips. Most broker on average charge 2 pips on every transaction, if 10 pips expected profit than your broker get 20% from your trade. it is become expensive and in the long run, you might lost all your capital.
Everything in the world has its own rhytms
Quoting COopa
{quote} it is depend on which currency pairs u trade. EU has average of 110 price range with max 218 price range for the last 2 months. for intraday trader 10-20 pips absolutely scalping on EU 40 pips already 1/3 from average daily price range. Someone may call it scalping and the others may call it medium term trading. over 100 pips in one transaction, absolutely a quite good intraday trader can get in a day i dont want to enter any position if my expected profit less than 10 pips. Most broker on average charge 2 pips on every transaction, if 10...
good advise, couldn't say it better
Quoting zaphy
{quote} There is a very long list (including all of his papers on the subject) in the references section of Mandelbrot and Hudson's book 'The (Mis)Behaviour of Markets'. Also 'http://classes.yale.edu/fractals/' is a light starter. HTH.
Thanks Zaphy... Nice to see a fellow trader helping out.. After all.. if we can't learn at this forum to produce good traders, then why call it forex factory. Thou some things it is a forum for playing king of the hill... lol
Luck has no place in trading. Leave that for the poker table.
Quoting RussJ
{quote} See my earlier post... I was eyeballing the fractals and drawing it as I saw it... arrows are 5 waves... different colours represent different time zones... the largest 1 which goes off page is only 3 wave as couldn't fit 5 on etc.... but that's how fractals work... that might not be specific as not looked at the S and R's but its how i'm eyeballing it and will be very close i'm sure
Thanks Russ!
Luck has no place in trading. Leave that for the poker table.
Quoting RussJ
There's always 40 pips.. the average move is 40 pips and retrace 25 pips..... 4 - 7 pips is amateur/Novice or prop house that do high frequency as no spreads... retailers gaining 4 - 7 pips doesn't work int he end as Risk to Reward is notthere as they have spread or commission etc.... but 4 - 7 pips is called high frequency trading if done correctly... but this should only be done by someone that has virtually no spread and has the proper systems to get in and out ... prop houses have ability to get in hyper fast with...

1) A RR 1:1 with a 51% winning trades confirms the opposite, without considering a higher return rate like 75-80%. Math is not a matter of opinion.
2) I understand that is not for you, at this level you need to know what you are doing.
Gator, what's your MOFU near 1.3150? I lost my data.
The Thief of Wall Street
Quoting Kingscalp
{quote} 1) A RR 1:1 with a 51% winning trades confirms the opposite, without considering a higher return rate like 75-80%. Math is not a matter of opinion. 2) I understand that is not for you, at this level you need to know what you are doing.



Its not for me.... I count it as a scratch trade ... Everyone to their own style.... I like to pryamind and that's not for everyone.. you have to know where the points are definite then otherwise you stand to lose a lot of pips... but any style works as long as you have the discipline, patience and self control to carry it out that's whats key those last 3 parts of the equation
Quoting KillerWhale
Looks like we're getting a tiny retrace finally
If it does, 3006.1 should be the target.
The Thief of Wall Street
if we go up good chance of failing at 57 now.. took too long.. although if we are at 13040 plus before 06.45 GMT then we can make the 76 area but if still in 30's and go up the 57 wil be the short in my opinion
if we go down first though to 13006 then scalp up to 1.3036 area and look for a short lower than where I would be looking if went up first... if goes down first then see 1.2958 possibly happening... if go up first and reach 13076 then can see the bottom being 1.2967
Quoting Chicky
{quote} If it does, 3006.1 should be the target.
Think up first to 1.3059 then retrace to 1.3006.. then up to 1.3029 and falling down to 1.2965 and New York takes us higher high to the 1.3080 level possibly surpassing it running straight through to 1.3005
Quoting RussJ
{quote} Its not for me.... I count it as a scratch trade ... Everyone to their own style.... I like to pryamind and that's not for everyone.. you have to know where the points are definite then otherwise you stand to lose a lot of pips... but any style works as long as you have the discipline, patience and self control to carry it out that's whats key those last 3 parts of the equation
This sounds a bit better.
Quoting RussJ
if we go down first though to 13006 then scalp up to 1.3036 area and look for a short lower than where I would be looking if went up first... if goes down first then see 1.2958 possibly happening... if go up first and reach 13076 then can see the bottom being 1.2967
I am afraid John will push it near 1.3140/50 area by the week-close to create a week-end gap-up over 1.3150 level in the darkness of night.
The Thief of Wall Street
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